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makkiz [27]
3 years ago
12

Assume that ABCO is a U.S. multinational corporation. Its foreign subsidiaries must report income in their respective countries

according to GAAP in those countries. How must ABCO report its consolidated financial statements?
A) ABCO must choose any one country's accounting standards and combine the subsidiary reports into the parent company's statements using that one country's GAAP.
B) Since the company is operating in several different countries, the International Accounting Standards must be used for the consolidated financial statements.
C) Since ABCO is a U.S. corporation, U.S. generally accepted accounting principles must be used for the consolidated financial statements.
D) On the consolidated financial statements, each subsidiary's financial results must be shown in the currency of the country where the subsidiary is located.
Business
1 answer:
Marina CMI [18]3 years ago
3 0

Answer: c

Explanation:

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Select the true statement about the impact of automation on employment. a.) Automated processes have no effect on the number of
avanturin [10]

Answer:

b.) While some job loss may occur as a result of automation, the potential for job creation exists

Explanation:

Automation is the process by which a the production process that is usually managed by people becomes mechanised.

The control and monitoring functions that people usually do is now transferred to automatic devices.

While this will cause some job loss as a result of lack of skill to operate the new machines, it will also result in an avenue for fresh employment.

Employees can acquire the required skill to operate the machines that are now used in the production process.

8 0
2 years ago
A customer holds 1,000 shares of ABC stock valued at 80 in a margin account. The debit balance in the account is $35,000. ABC de
Tom [10]

Answer:

C

Explanation:

Reduction of cost basis per share.

When you take a look at some of the rules that IRS has, you see that stock dividends do not get taxsd at the time of receipt. They don't get taxed because, the shareholder does not receive anything from the company, only but a hope on any increased future share price increment or appreciation.

7 0
3 years ago
Carson County State Bank has a ratio of equity capital to total assets of 2.5%. The FDIC which regulates this bank has determine
Elenna [48]

Answer:

compliance risk

Explanation:

Compliance risk -

It refers to the risky situation , which can be due to some financial forfeiture , legal penalties , loss of material , when the company fails to follow the rules and  regulations , is referred to as compliance risk .

Hence , from the given scenario of the question,

The correct type of risk involved is compliance risk .

6 0
3 years ago
On April 1, Pujols, Inc., exchanges $590,000 fair-value consideration for 70 percent of the outstanding stock of Ramirez Corpora
Svet_ta [14]

Answer:

Closing NCI = $234,300 + $69,000 = $303,300

Explanation:

The Question is to identify the non-controlling interes in Ramirez Corporation

First we determine the Net income of Ramirez

Net Income = Revenues - Expenses

= $635,000 - $405,000 = $230,000

The next step is to dtermine the value of non -controling interest in teh net income of Ramirez.

Non-Controlling Interest in Net Income = NCI percentge x Net Income

= 30% x $230,000 = $69,000

Finally, based on these calculations , we can compute the Closing Balance of Non-Controlling Interest

The formula = Opening Non-Controlling Interest + Non-controlling Interest Share of Net income

Closing NCI = $234,300 + $69,000 = $303,300

3 0
3 years ago
Some companies want to get their products into as many outlets as possible, understanding that the more exposure a product gets,
azamat

Answer:

Mass Distribution

Explanation:

Mass distribution strategy is one of three approaches to distribution in marketing. It is engaged where an organisation seeks to sell its goods to as many customers as possible. Intermediaries with very wide market base are usually the targets for such organisations.

7 0
3 years ago
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